Virnetx (NASDAQ:VHC) CEO Kendall Larsen Sells 4,575 Shares

Virnetx Holding Corp (NASDAQ:VHC) CEO Kendall Larsen sold 4,575 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $11.51, for a total transaction of $52,658.25. Following the completion of the sale, the chief executive officer directly owned 360,058 shares in the company, valued at $4,144,267.58. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kendall Larsen also recently made the following trade(s):

• On Monday, August 31st, Kendall Larsen sold 5,000 shares of Virnetx stock. The stock was sold at an average price of $11.17, for a total transaction of $55,850.00.

Virnetx Stock Performance

NASDAQ VHC opened at $11.30 on Thursday. Virnetx Holding Corp has a 52 week low of $9.82 and a 52 week high of $29.00. The stock’s 50 day moving average price is $12.78 and its two-hundred day moving average price is $14.08. The stock has a market capitalization of $47.30 million, a price-to-earnings ratio of -2.10 and a beta of 2.28.

Virnetx (NASDAQ:VHC) last issued its quarterly earnings results on Friday, August 14th. The company reported ($1.20) earnings per share for the quarter.

Hedge Funds Weigh In On Virnetx

Several institutional investors and hedge funds have recently modified their holdings of VHC. JPMorgan Chase & Co. increased its position in Virnetx by 9,676.5% during the third quarter. JPMorgan Chase & Co. now owns 4,986 shares of the company’s stock worth $85,000 after acquiring an additional 4,935 shares during the period. State Street Corp raised its stake in Virnetx by 21.9% in the 4th quarter. State Street Corp now owns 14,447 shares of the company’s stock worth $241,000 after purchasing an additional 2,600 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Virnetx by 3.1% in the 4th quarter. HighTower Advisors LLC now owns 20,571 shares of the company’s stock valued at $343,000 after purchasing an additional 625 shares during the period. Geode Capital Management LLC boosted its holdings in Virnetx by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 32,357 shares of the company’s stock valued at $351,000 after purchasing an additional 1,318 shares during the period. Finally, BlackRock Inc. acquired a new position in shares of Virnetx during the 2nd quarter worth approximately $840,000. 10.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VHC. Wall Street Zen cut Virnetx from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Virnetx in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Virnetx presently has an average rating of “Sell”.

Virnetx Company Profile

VirnetX Holding Corp. is a U.S.-based technology company focused on secure communications and network security technologies. The company develops, owns and licenses intellectual property covering methods and systems for encrypted communications, virtual private networks and secure domain name resolution. VirnetX’s work centers on technologies designed to protect data in transit and enable private, authenticated connections across public networks.

VirnetX’s offerings are primarily deployed through licensing arrangements and technology integrations rather than through mass-market consumer products.